Dow Jones Indexes has licensed the Dow Jones Industrial Average index of blue-chip US equities to
Credit Suisse for use as an underlying index for an exchange traded fund. The new product, Xmtch (IE) on Dow Jones Industrial Average, is now listed and traded in the ETF segment of the SIX Swiss Exchange.

“By licensing The Dow, Credit Suisse adds a supreme benchmark to their ETF portfolio, and enables market participants to measure the performance of the US market,” said Michael Petronella, president, Dow Jones Indexes.

The move demonstrates how the exchange traded funds industry continues to expand around the world. ETFs, which are listed and tradable like individual securities, have developed rapidly over the past decade. Major operators of ETFs include BlackRock, via its iShares brand, State Street, Lyxor (part of Societe Generale), and Deutsche Bank.

The Dow Jones Industrial Average is a price-weighted index tracking 30 of the biggest blue-chip stocks in the US; its composition reflects the changing economy and it now covers a range of industries such as financial services, technology, retail, entertainment and consumer goods. The stocks included are selected by editors of The Wall Street Journal.